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188-192 Raglan Street S Renfrew, Ontario K7V 1R1

$549,900

Potential for $78,000 gross income! Two retail storefronts (fully leased) and a HUGE office space of 2500+sq ft upstairs (VACANT). DIAMOND in the rough... Flip property- CASH FLOW WHILE YOU RENOVATE! ADD VALUE or refinance or sell for a profit! Selling for just over $100 a sq ft. Current gross income : $48,000/yr ($2000 x 2 for retail spaces) - Expenses- approx; $17,804/yr (should be less). TOTAL CURRENT NOI: $30,196/yr. BUT... 2500 sq ft of office is vacant. Potential after $80-100k renovation is at least $12/sqft which equals $30,000 a year. $78,000 projected Gross Income. Do you want to use it for an OFFICE? If you keep as office upstairs and rent it at that rate the Projected NOI is $60,196/yr. EITHER WAY... This is can be your cash cow! Currently cash flowing without upstairs rented... RENOVATE while you GENERATE! 48hrs notice for showings - book now. (id:18965)

Property Details

MLS® Number 1315182
Property Type Retail
Neigbourhood Renfrew
Parking Space Total 4

Building

Constructed Date 1900

Land

Acreage No
Size Depth 119 Ft ,7 In
Size Frontage 51 Ft ,5 In
Size Irregular 51.41 Ft X 119.58 Ft (irregular Lot)
Size Total Text 51.41 Ft X 119.58 Ft (irregular Lot)
Zoning Description Commercial

https://www.realtor.ca/real-estate/24925299/188-192-raglan-street-s-renfrew-renfrew

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RE/MAX Hallmark Realty Group
700 Eagleson Road, Suite 105
Ottawa, Ontario K2M 2G9

(613) 663-2720

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